Economics is a significant part of the syllabus for various competitive examinations like PSC Exams, IPS Exam, BPSC Exam, UPSC Exams, etc. Varied topics from Indian Economics are asked in the IAS Preliminary as well as mains examination. It is also available as an optional subject for various administrative examinations. Therefore, if you plan to crack any of the toughest exams in India, having a thorough knowledge of the subject is mandatory. Here is a comprehensive blog covering the essentials of Economics for UPSC!
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Wondering How to Prepare for UPSC? Have a look at these NCERT Books for UPSC!
Economics Syllabus for UPSC
To get crack through the highest paying government jobs in India, it is important to have a comprehensive understanding of Economics for UPSC syllabus. Glance through the detailed list of topics mentioned below;
|Main topics||Sub Topics|
|Economic Growth and Development||The basic concept and definition of economy and economics. Its uses and transfer of resources, distributive effects, macro and microeconomic policy, micro-macro balance, the distributive impact of economic policies, development versus growth, determinant of growth and development, concepts such as HPI/MPI, HDI, PQLI, GEM, GDI/GII, TAI, Green index, sustainable development, India’s ranking in the various indices.|
|Poverty||Definitions, causes, distribution-deprivation, income versus calories, measurement of poverty, the status of poverty, eradication programmes, poverty and resource policy, tribal rights and issues, livelihood mission.|
|Inclusion||Definition, relevance, types, financial inclusion, recent initiatives.|
|Demographics||Census Data, populations by gender, by state, by age group, socio-economic status, caste, religion, literacy levels, etc. Trends in human development – interstate comparison, etc.|
|Fiscal policy||Definition, component, receipts, revenue and capital account, tax revenue, expenditure, budget.|
|Features of Indian Economy||DIvision of economic activities, poverty, unemployment, HDR, measures to eradicate poverty|
|Basic Economic Indicators||National income, price index, production, population, foreign trade|
|Population||Growth, census, consumption pattern (energy)|
|National income||Concepts, Methods of Calculation|
|Agriculture||Crops, seasons, agricultural credit agencies, Kisan Credit agencies, land reforms, insurance, green, white, blue, yellow revolutions, irrigation|
|Industry||Industrial policies (1948, 1956, 1991), small scale industries, key industries, industrial sickness, the different committees, disinvestment, PSU policy, industrial finance|
|Foreign trade||Composition, direction, EXIM policy, WTO, the balance of payments, measures to improve foreign trade|
|Money and Banking||Money market, credit control (different rates), commercial banks, cooperative banks, NBFCs, committees, SEBI, stock market developments, the insurance industry, new banking sector reforms, money supply measures, inflation, deflation|
|Planning commission||Five-year plans|
|Public finance||Finance commission, taxation, deficit financing, public spending and debt|
Important Economics for UPSC Books
Following the correct study material and books is quintessential when you are preparing for such a prestigious examination. Here is a list of books that can help you cover all the important Economics topics for UPSC:
|Name of the Book||Authored||Links|
|Indian Economy||Mishra-Puri, Dutt-Sundaram||Click Here to Buy!|
|The Economics of Development & Planning||M. L. Jhingan||Click Here to Buy!|
|International Economics||H.G. Mannur||Click Here to Buy!|
|Public Finance||H.L. Bhatia||Click Here to Buy!|
|Money and Banking||S.B.Gupta||Click Here to Buy!|
|Macroeconomic Theory||M. L. Jhingan||Click Here to Buy!|
|Modern Microeconomics||A. Koutsoyiannis||Click Here to Buy!|
|Indian Economy||Ramesh Singh||Click Here to Buy!|
|The Indian Economy||Sanjiv Verma||Click Here to Buy!|
|Dictionary of Economics||Graham Bannock; T.E. Baxter, Ray Rees||Click Here to Buy!|
|Economic Growth and Development||Mayer and Baldwin||Click Here to Buy!|
|Economics||Paul A. Samuelson||Click Here to Buy!|
|Economics Choice||Koutsweanik||Click Here to Buy!|
|Growth and Development||M L Jhingan||Click Here to Buy!|
|International Economics||Bo Soderston||Click Here to Buy!|
|International Economics||H.G. Mannur or Salvatore||Click Here to Buy!|
|International Trade||Bo Soderston||Click Here to Buy!|
|MacroEconomic Analysis||Edward Shapiro||Click Here to Buy!|
|Modern Banking||R.S. Sayers||Click Here to Buy!|
|Monetary Theory and Public Policy||Kenneth Kurihara||Click Here to Buy!|
|National Income Accounting||Neethu||Click Here to Buy!|
|Outline of Monetary Economics||A.C.I. Day||Click Here to Buy!|
How to Prepare for Economics for UPSC?
Here are the important tips that are going to help you in preparing Economics for UPSC exams:
- In order to impress your evaluators and justify your answers, make use of important graphs wherever possible.
- Make use of data, figures and statistics while writing your answers.
- In order to rationalize your answers, write numerous authentic examples.
- Read Newspapers like Economic Times, The Hindu, The Indian Express, The Yojna, Civil Service Times etc.
There are many books available online and offline. Some of the best books are Indian economy by Mishra-Puri, Dutt-Sundaram, Modern microeconomics by A. Koutsoyiannis and International Trade by Bo Soderston.
It is an important part of UPSC GS and also among the optional subjects in UPSC. It has a good success rate among candidates.
Some of the important NCERT books are:
1. NCERT Class VII – Our Past -I
2. NCERT Class VIII – Our Past II and III
3. NCERT Class IX – India and the Contemporary World – I
Indian Economy by Ramesh Singh and The Indian Economy by Sanjiv Verma are some of the best books for UPSC
NCERT will help you in preparation of basics but for in-depth and more practice you should take help from sample paper and previous year question paper as well.
We hope our blog provided all the essential information on Economics for UPSC. If you have any questions regarding courses, careers and universities abroad for Economics, get in touch with Leverage Edu and we will provide perfect solutions to your problems!